Walt Disney Co. plans to develop an expensive vacation-home real estate community – “Golden Oak” – in Walt Disney World in Florida.
- Golden Oak homes will be priced between $1.5 and $8 million dollars, placing them at the very top of the Orlando area housing market.
- Construction on the first homes is expected to be finished in 2011.
- There is another real estate development next to the theme park – “Celebration” – that is more economically diverse and generally considered a successful project.
Facts & Figures
- The average price of new home listings in the Orlando area in 2010 is about $243,000.
- The proposed plan includes 450 homes, a 445-room Four Seasons hotel, 2 updated golf courses, a clubhouse, parks, walkways, and wetlands.
Best Quote
“This may be the first time that a kind of man-made entertainment center has generated that kind of real-estate activity.” – Elizabeth Plater-Zyberk, Dean of Architecture at the University of Miami